<ARTICLE> 5 <PERIOD-TYPE> 3-MOS <FISCAL-YEAR-END> Dec-31-1996 <PERIOD-END> Mar-31-1996 <CASH> 592,984 <SECURITIES> 953,445 <RECEIVABLES> 0 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 0 <PP&E> 19,054,643 <DEPRECIATION> (4,508,998) <TOTAL-ASSETS> 16,220,697 <CURRENT-LIABILITIES> 305,593 <BONDS> 0 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 0 <OTHER-SE> 7,252,518 <TOTAL-LIABILITY-AND-EQUITY> 16,220,697 <SALES> 0 <TOTAL-REVENUES> 709,226 <CGS> 0 <TOTAL-COSTS> 0 <OTHER-EXPENSES> 443,338 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 198,113 <INCOME-PRETAX> 0 <INCOME-TAX> 0 <INCOME-CONTINUING> 0 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 67,775 <EPS-PRIMARY> 0 <EPS-DILUTED> 0